Global Plastic Recycling Market was valued US$ 44.60 Bn in 2020 and is expected to reach US$ 69.31 MBn by 2027, at a CAGR of 6.5% during a forecast period. To know about the Research Methodology :- Request Free Sample Report The report has covered the market trends from 2016 to forecast the market through 2027. 2020 is considered a base year. Special attention is given to 2020 and effect of lockdown on the demand and supply, and also the impact of lockdown for next two years on the market. Some companies have done well in lockdown also and specific strategic analysis of those companies is done in the report.

COVID-19 impact on global Plastic Recycling market

 Through the emergence of various industrialized and quickly developing countries, the burgeoning COVID strain has wreaked havoc on healthcare infrastructure. Hospital staff, drugs, oxygen beds, and fans are all in short supply. Graveyards and crematoria were continuously working to prevent the accumulation of dead bodies. Supply chains are prone to instabilities, which wreak havoc on manufacturing processes in many countries. The World Health Organization's (WHO) International Health Regulations Emergency Committee declared the Coronavirus disease (COVID-19) Outbreak a worldwide public health emergency on January 30, 2020.

Global Plastic Recycling Market Dynamics

The Research Report gives a comprehensive account of the drivers and restraints in the plastic recycling market. Plastics are lightweight, sturdy and cheap materials, which can be promptly made into an assortment of items. Accordingly, the creation of plastics has expanded complex in the course of the most recent couple of decades. In any case, their current degrees of utilization have produced enormous waste removals bringing about a few natural issues. The landfill is the customary technique for the removal of the waste, yet the landfill region has gotten rare in numerous nations. In spite of the fact that this technique has restricted ecological effects, there are long haul dangers of defilement of soils and groundwater, related to it, accordingly dirtying it. Utilization of plastics additionally causes marine contamination as utilized plastics are strewn across seas, sounds, streams, and estuaries causing extreme plastic contamination sway biodiversity and biological system, nourishment security, and human wellbeing. They pollute the oceanic biological systems as modest particles of plastic flotsam and jetsam. This influences the marine living beings as they ingest or get caught by plastic which brings about deadly outcomes. Subsequently, plastic contamination has been a worldwide risk as around 4.4–12.7 million tons of plastic squanders are added to the seas every year. Plastic squanders in the water bodies are not compelled by national limits as they can move by means of water and air flows and settle in the benthic zone of water not at all like different contaminations, for example, ozone-depleting substances (GHG) and ozone-exhausting material. This has prompted the making of the Great Pacific trash fix, otherwise called the Pacific rubbish vortex. The utilization of reused plastics has expanded complex in the packaging business. As of late, the Association of Plastics Recyclers (US), enrolled organizations to promise to utilize more reused plastics in their offices and supply chains. A portion of these organizations is Coca-Cola North America, Unilever, Walmart, Target Corp., Procter and Gamble Co., Ecover, Evian, L'Oréal, Mars, MS, PepsiCo, Campbell Soup, Amcor Werner and Mertz and Keurig Green Mountain Inc. These driving retailers and bundling organizations vowed to progress in the direction of utilizing 100% reusable, recyclable or compostable bundling by 2027 or prior. These organizations together devour in excess of 6 million tons of plastic packaging every year. The utilization of reused plastics has likewise cleared its way into the car business as an expanding number of vehicle parts and segments are being made with reused plastics because of its different natural advantages. Organizations, for example, Chrysler, Ford, Honda, General Motors, Nissan, and Toyota have expanded the utilization of reused plastics in their assembling units. The Electrical and Electronics industry has likewise been seeing the expanded use of reused plastics in electric and electronic hardware (EEE). Reused plastics are right now utilized in an assortment of ICT items as organizations actualized the utilization of reused plastics as a feature of willful understandings for green industry activity. Significant organizations utilizing reused plastics in their items are Dell, HP, Lenovo, Lexmark, Océ-a Canon Company, Samsung Electronics, and Sony. Consequently, the developing utilization of reused plastics by the significant partners in the bundling, car and the electrical and hardware businesses will legitimately add to the expanding request of reused plastics. However, stringent competition with virgin plastics as far as execution is the main consideration limiting the development of the market. The prohibition on import of certain waste plastic pieces to China and an unpredictable assortment of the waste plastics for its reprocessing are a portion of the variables testing the development of the worldwide recycled plastics advertise internationally. China, the world's biggest client of scrap plastics has reported that it will prevent bringing in plastic refuse from different nations. This has become the greatest test right now late as China has been the significant customer of rescued materials and reprocessing it to valuable materials that were utilized in numerous applications, for example, funnel, covers, and jugs among others. This will be a big challenge for other countries.

Global Plastic Recycling Market Segment analysis

Based on Type, the Polyethylene Terephthalate (PET) segment is expected to grow at a CAGR of XX% during the forecast period. Polyethylene Terephthalate (PET) is largely recycled into PET fibers and yarns for textile applications. However, most plastics end up as construction products such as plastic lumber, landscaping furniture, and roof floor tiles. Post-consumer polyethylene terephthalate (PET or PETE) containers are sorted into different colors. PET recyclers further wash and clean the flakes. The clean flake is dried, melted, reprocessed and then converted into useful products such as bottles, sheets, straps, monofilaments, master batches, injection molded articles, polyester staple fibers, and partially oriented yarns. rPET is widely used in the production of polyester fibers.

Global Plastic Recycling Market Regional analysis

The Asia Pacific is projected to dominate the global Plastic Recycling market throughout the forecast period. The APAC plastic reusing market has high development potential and is relied upon to exhibit a CAGR of 8.9%, as far as volume, during the figure time frame. This development is credited to the advancement of a critical number of little scope handling plants in the area. Besides, over the long haul, the market is relied upon to recover from the insecurity brought about by the boycott, with South Asian nations taking the bigger offer in the market, inferable from the nearness of minimal effort work and generous ecological standards and guidelines. In any case, certain variables, for example, the proposed laws and guidelines for bringing down the imports of plastic waste by these nations, are relied upon to modestly sick influence the market development. The plastic industry gives direct employment to more than 1.5 million people in Europe.

Global Plastic Recycling Market Key Developments

• In February 2018, RAMPF Eco Solutions and Keil Anlagenbau GmBH Co. KG announced plans to design a multi-functional polyol production plant in Dubai, U.A.E. The facility is anticipated to manufacture high-quality polyols from on-site PU/PIR waste materials, thereby aiding the company lower costs, and at the same time, reduce the waste generation volume at the site. • In April 2019, MOL Group announced the signing of a sales–purchase agreement to acquire Aurora, a recycled plastic compounder headquartered in Neuenstein, with production plants in Baden-Württemberg, Germany. The acquisition is likely to support MOL Group in offering a wide range of high-quality PP, polyamide, and other recyclate-based compounds, in coherence with its existing portfolio of virgin PP and PE. The objective of the report is to present a comprehensive analysis of the Global Plastic Recycling Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Plastic Recycling Market dynamics, structure by analysing the market segments and projects the Global Plastic Recycling Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Plastic Recycling Market make the report investor’s guide.

Scope of the Global Plastic Recycling Market : Inquire before buying

Global Plastic Recycling Market, by Regions

• North America • Europe • Asia-Pacific • South America • Middle East and Africa (MEA)

Global Plastic Recycling Market, Key Players

• MBA Polymers Inc. • MOL Group • Plasgran Ltd. • Novolex • Phoenix Technologies International LLC • Vikoz Enterprises, Inc. • Plastic Recycling, Inc. • Terracycle US, Inc. • KW Plastics • DS Smith PLC • PETCO • Waste Connections, Inc. • Custom Polymers, Inc. • Envision Plastics • Kuusakoski Group Oy • Clear Path Recycling • Clean Tech Incorporated • Mohawk Industries Incorporated • CarbonLite Industries • Envision Plastics Industries • Advanced Environmental Recycling Technologies Incorporated • Evergreen Plastics • PolyQuest • Phoenix Technologies • Verdeco Recycling Frequently Asked Questions: 1. Which region has the largest share in Global Plastic Recycling Market? Ans: Asia Pacific region holds the highest share in 2020. 2. What is the growth rate of Global Plastic Recycling s Market? Ans: The Global Plastic Recycling Market is growing at a CAGR of 6.5% during forecasting period 2021-2027. 3. What segments are covered in Global Plastic Recycling market? Ans: Global Plastic Recycling Market is segmented into source, type, recycling method, end use and region. 4. Who are the key players in Global Plastic Recycling market? Ans: The important key players in the Global Plastic Recycling Market are – MBA Polymers Inc., MOL Group, Plasgran Ltd., Novolex, Vikoz Enterprises, Inc., Plastic Recycling, Inc., Terracycle US, Inc., KW Plastics, DS Smith PLC, PETCO, Waste Connections, Inc., Custo, Polymers, Inc., Envision Plastics, Kuusakoski Group Oy, Clear Path Recycling, Clean Tec, Incorporated, CarbonLite Industries, Evergreen Plastics, PolyQuest, Phoenix Technologies, Verdeco Recycling 5. What is the study period of this market? Ans: The Global Plastic Recycling Market is studied from 2021 to 2027.